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Germany decriminalized medical cannabis in 2016 and in November 2021, leaders of Germany’s incoming governing parties stated they had a formal agreement to legalize marijuana.
The German Health Minister, SPD-affiliated Karl Lauterbach said he wants to put cannabis reform on the summer legislative agenda, reported Handelsblatt.
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As quoted in the German media, Lauterbach said that he has “changed his mind about this in the past two years…I’ve always been an opponent of cannabis legalization, but I revised my opinion about a year ago,” the minister said.
“He now believes that the dangers of the status quo outweigh the dangers of recreational reform. Lauterbach’s statements about cannabis reform were part of his call for stepped-up action on several pressing issues facing the German healthcare system,” reported internationalcbc.com
According to the Institute for Competition Economics (DICE) the legalization of recreational cannabis could bring the country some 3.4 billion euros ($3.85 billion) in tax revenue. What’s more, it would save roughly 1.3 billion euros annually for the judicial system and create 27,000 new jobs.
With twice the population of California, a fully legal Germany could grow quickly. BDSA forecasts adult-use sales beginning in 2024, with the nation expected to account for more than a third of total international (exclusive of the US and Canada) legal cannabis growth from 2021 to 2026.
Image Via El Planteo.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.